Initial Jobless Claims Fall to Three-Month Low

Washington, DC, July 10, 2008--Initial jobless claims for U.S. unemployment benefits fell by 58,000 in the latest week, the Labor Department reported Thursday.

At 346,000, initial claims were the lowest since April. The four-week average fell to 380,500, while continuing claims hit their highest level since December 2003, rising 91,000 to 3.20 million.

The four-week average of continuing claims rose to 3.13 million.